New Project for Real Estate Transactions

The government proposes to make information databases accessible so that online information can be obtained when making real estate transactions. The regulations adopted stipulate that the process of imposing restrictions on real estate in our country must be completely digitized. This norm has been in place for almost a year; however, there has been a gap concerning judicial authorities.

According to the project, decisions related to any property, real estate, or action in the judicial authorities must also be submitted to the system established by the Cadastre Committee until the judicial authorities will have their own digital systems. The legislative package, which suggests amendments and changes to the laws on the state registration of property rights and related laws, was discussed for the first reading in the permanent commission on state-legal issues of the National Assembly.

The issue was presented for discussion by the head of the Cadastre Committee of Armenia, Suren Tovmasyan. “Let’s create the opportunity for the information databases of the Cadastre Committee to be managed in a timely manner, and whenever we provide any information to citizens based on an application, we can reflect the decisions obtained through all available information channels in unified certificates or other information records at that moment,” stated Suren Tovmasyan.